Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Property in Chesterton Title is generated by Realmo AI

    1147 N Salt Creek Road, Chesterton, IN 46304

    View on Map
    Claim this Listing
    New
    For Sale
    $1,500,000

    COMMERCIAL - Chesterton, IN

    Property size:
    6,488 SF
    Lot size:
    1.04 Acres
    Price / SF:
    $231/SF
    Added:
    May 21, 2026
    Days on Market:
    1
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 1147 N Salt Creek Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    7300
    Exterior features
    Lighting, Storage, Private Yard
    Standard status
    Active
    APN
    640605327001000024
    Size
    6,488 SF
    Lot size
    1.04 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    S330 N685 W137 E1325 SW 5-36-6 1.04A TIF
    Tax Annual Amount
    5254

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1984
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Kristin Phillippe

    Listing agent Kristin Phillippe License #RB17000679

    Listing office Listing Leaders 410 Lincolnway, Valparaiso, IN

    Listing date May 21, 2026

    MLS# 839272

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic location with exceptional visibility and easy access.
    • Four buildings totaling nearly 6,500 square feet.
    • Over an acre lot with ample parking and room for expansion.
    • Suitable for various business ventures: retail, office, storage, service industries, or mixed‑use.
    • Public water and sewer.
    • Exterior features include lighting, storage, and a private yard.

    Overview

    This commercial property, situated on just over an acre, features four buildings totaling nearly 6,500 square feet. The property benefits from exceptional visibility and easy access due to its location along a high-traffic roadway. The expansive lot offers ample parking and room for expansion. This location is suitable for a variety of business ventures, investment opportunities, retail, office space, storage, service industries, or mixed-use possibilities.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $1.02M
    NOI $91,368 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.31M
    NOI $91,368 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.83M
    NOI $91,368 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Retail

    Component $ $/SF
    Gross rent $136.2k $21.00
    − Vacancy −$5.7k −$0.88
    EGI $130.5k $20.12
    − OpEx −$39.2k −$6.04
    NOI $91.4k $14.08
    6,488 SF · lease $21.00/SF/yr · vacancy 4.20% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $1.31M
    $1.14M – $1.52M (±1% cap)
    NOI $91,368 @ 7.0% cap · market cap 6.09%
    Second Best
    Office B
    $1.11M
    $974.3K – $1.30M (±1% cap)
    NOI $77,942 @ 7.0% cap · market cap 5.20%
    Theoretical Best
    Healthcare Medical
    $2.46M
    $2.15M – $2.87M (±1% cap)
    NOI $172,130 @ 7.0% cap · market cap 11.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chesterton
    County
    Porter
    State
    Indiana
    Longitude
    -87.0454
    Latitude
    41.6139

    Nearby Similar for Sale

    • $450,000
      6,236 SF

      Unique Train Car Business Opportunity

      Own and operate a business in four train cars!
      301 Grant Avenue, Chesterton, IN 46304
      View Details
    • $460,000
      3,398 SF

      Historic Chesterton Commercial Property For Sale

      Commercial property with long-term tenant in historic Chesterton location.
      125 S Calumet Road, Chesterton, IN 46304
      View Details
    • $1,339,000
      20,528 SF

      Chesterton Commercial Flex Building For Sale

      20,528 SF commercial flex building in Chesterton, Indiana.
      700 Broadway Avenue, Chesterton, IN 46304
      View Details
    • $249,000
      2,800 SF

      Retail Space in Chesterton

      2,800 SF commercial space in a modern retail condominium.
      850 Sidewalk Rd #180, Chesterton, IN 46304
      View Details
    • $499,900

      New Duplex Near Indiana Dunes

      New construction duplex with immediate rental income near Indiana Dunes.
      150-152 N 16th Street, Chesterton, IN 46304
      View Details
    • $525,000

      New Duplex Near Downtown Chesterton

      New 2024 duplex with immediate rental income near amenities.
      140-142 N Jackson Boulevard, Chesterton, IN 46304
      View Details
    • $775,000
      12,812 SF

      Historic Mixed-Use Building, Chesterton

      Prime retail, office, and residential spaces in downtown Chesterton.
      119 Broadway Avenue, Chesterton, IN 46304
      View Details
    • $249,000
      1,400 SF

      Retail Showroom Near Route 49

      Retail showroom space available, close to major routes.
      830 E 1050 N, Chesterton, IN
      View Details
    • Contact for pricing
      3,656 SF

      Retail Property Near Indiana Dunes

      Retail property with high visibility and strong demographics.
      755 Indiana Boundary, Chesterton, IN 46304
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Four buildings on an acre with high visibility and access.
    Where is this mixed-use property located?
    The property is located at 1147 N Salt Creek Road Chesterton, IN.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: High‑traffic location with **exceptional visibility and easy access**.; Four buildings totaling nearly 6,500 square feet.; Over an acre lot with ample parking and room for expansion.
    (219) 644-7211
    We can help!
    Listing Contact
    Kristin Phillippe
    Real Estate License ID: RB17000679
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1147 N Salt Creek Road, Chesterton, IN 46304
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!